AE Wealth Management LLC Buys 3,321 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

AE Wealth Management LLC grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,481 shares of the utilities provider’s stock after purchasing an additional 3,321 shares during the quarter. AE Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $16,913,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PEG. Raymond James & Associates lifted its holdings in shares of Public Service Enterprise Group by 315.2% in the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after purchasing an additional 1,674,827 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares during the last quarter. Reaves W H & Co. Inc. increased its position in shares of Public Service Enterprise Group by 73.9% during the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after acquiring an additional 667,773 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Public Service Enterprise Group by 381.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after acquiring an additional 634,587 shares during the last quarter. Finally, Cohen & Steers Inc. increased its position in shares of Public Service Enterprise Group by 23.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock valued at $146,132,000 after acquiring an additional 455,693 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock valued at $2,406,965 over the last 90 days. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Barclays raised their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Monday, June 17th. Finally, Royal Bank of Canada raised their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $86.76 on Friday. The firm has a market capitalization of $43.21 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $86.83. The stock has a fifty day moving average of $79.70 and a 200 day moving average of $73.54. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.